Patent*

2015 07 01 | Category: Offshore Glossary

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Patent*
The exclusive right to make use of an invention or process for a specific period of time, usually 14 years. It is granted by the government (U.S. Department of Commerce Patent Office) and gives the right to exclude others from making, using or selling one’s invention, which includes the right to license others to make, use or sell the invention.


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